viewGeopacific Resources Ltd

Geopacific Resources identifies wide high-grade intersections of gold at Woodlark Project

Dual exploration success at Woodlark project has paved the way for a resource estimate.

Picture of Woodlark project and surrounding deposits Papua New Guinea region
Surrounding multi-million ounce gold deposits suggest that Woodlark is well-positioned

Geopacific Resources Ltd (ASX:GPR) has identified new gold intersections at its Woodlark Gold Project located in Papua New Guinea.

Assays indicated thick intersections of high grade gold and some mid-range thicknesses such as 12 metres at 7.45 g/t gold and 7 metres at 5.25 g/t gold.

These assays were from the Boscalo area of the Woodlark project, only identified as a promising prospect in mid-2017 when an assay of 18 metres at 8.99 g/t gold was returned.

Management’s industry expertise and regional understanding show through

The fact that the company has been able to quickly conduct a successful exploration program in that area is a good reflection of its expertise operating in that region.

Importantly, the Boscalo results have coincided with highly promising results from drilling conducted in the better known areas of the Woodlark deposit.

Numerous thick high-grade zones have been delineated such as 41 metres at 4.5 g/t gold.

There were also extremely high-grade returns of 11 g/t gold and 9 g/t gold in relatively thick sections of 16 metres and 12 metres respectively.

Drilling program confirms historical data which indicated high grade mineralisation

Geopacific has undertaken a confirmation drilling program aimed at assessing some historic reverse circulation drill holes to ensure that they met JORC 2012 standards.

Results received to date have been better than previously indicated and are consistent with the grades and mineralisation expected.

In addition to the confirmation program, the company undertook a geological reinterpretation of more than 275,000 metres of previous drilling and re-assaying to improve the quality of its geological database.

Several upcoming catalysts

Management confirmed that the company is on track to release a resource and reserve estimate in the first quarter of 2018.

Quick facts: Geopacific Resources Ltd


Price: 0.305 AUD

Market Cap: $158.37 m

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